Expectations for the upcoming week
The first week of December will be very informative, and it is even despite the publication of an employment data in the United States, which will be released on Friday. The opening of the week is full of data on business activity in the manufacturing sector (PMI), which will set the mood in the market and stock markets. On Tuesday, market attention will shift to the results of the RBA meeting and UK data, which will resume speculation around Brexit and the associated risks.
On Wednesday, it will be good to pay attention to the speeches of the ECB President Draghi and Fed Chairman Powellin in addition to data on Australian GDP and statistics on the United States. It may cause a noticeable increase in the volatility of the euro and the US dollar, associated with the monetary policies of these economies. On Thursday, the saturation of the calendar will decrease and shift to the Canadian dollar.
On Friday, despite the saturation of the day with statistics, all the attention of the market will be focused on the US employment report, because the possibility of a rates hikes in the US at the December Fed meeting will largely depend on this report. (Anton Hanzenko)
Read also: “Prospects for the dollar by the end of September beginning of October 2018”
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